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Centre Advises Tinubu on How to Tame Soaring Inflation
Centre Advises Tinubu on How to Tame Soaring Inflation
By: Michael Mike
President Bola Tinubu has been advised to take a holistic approach at taming the soaring inflation in the country
A press statement on Tuesday by the Lead Director of the Centre for Social Justice, Eze Onyekpere said it has become imperative that Nigeria’s economic managers adopt a holistic approach to improving the economy/decelerate inflation.
Among the advised given for a leeway out of the present economic doldrums include “Increased productivity especially in the tradable and export-oriented sectors (including oil and gas as well as removing export trade barriers in the agriculture sector in the short run) can shore up our foreign exchange earnings which will improve the value for the Naira against major international currencies thereby limiting import induced inflation.
“Improving security of lives and property through the right political will that guarantee value for money in the provision of security services in Nigeria. It should be recalled that security has been given the highest budgetary allocations at the federal level in the last ten years. This will also improve agriculture’s contribution to the GDP and food production thereby limiting food inflation which has been the major driver of inflation over the last one year. Improved security will further lead to increased oil and gas production for export and local refining.
“Limit ways and means of funding of the federal budget to the statutory limit of not more than 5 percent of previous years’ actual revenue in accordance with S.38 of the Central Bank of Nigeria’s Act 2007.
“Implement a Nigeria First Local Content Policy in Federal and State Public Procurement to ensure that capital budget implementation do not put undue pressure on the Naira. Rather, capital budget implementation should create jobs, enhance local productivity and grow the economy, and
“Stop denying Nigerians access to their money, vis cash in banks as a means of mopping up what is considered excess liquidity. This is a fundamentally flawed measure for the reduction of inflation.”
Centre for Social Justice noted that rising prices is a symptom of the overall negative macroeconomic fundamentals and strong headwinds besetting the Nigerian economy, adding that beyond inflation, the Naira is losing value, poverty and unemployment is increasing; there have been massive factory closures, increasing insecurity and population growth figures that almost outpaced economic growth.
The Centre said that: “Furthermore, the short term and medium-term impact of economic reform measures (fuel subsidy removal and exchange rate unification) have not been properly articulated. The reforms were not accompanied by an evaluation/projection of their impact on the economy as well as countervailing measures necessary to limit their harsh effects on prices and other macroeconomic indicators.”
Centre Advises Tinubu on How to Tame Soaring Inflation
ISWAP admits losing 23 fighters in clash with troops in Sambisa Forest
By: Zagazola Makama
An intercepted communication involving members of the Islamic State West Africa Province (ISWAP) has reportedly confirmed the loss of 23 of their fighters during a recent encounter with Nigerian Special Forces troops in the Sambisa Forest, Borno State.
According to intelligence sources, the ISWAP associate informed an unidentified contact that Nigerian forces had conducted sustained operations in Sambisa Forest for a week, during which they burned down the village of Allafawa and destroyed properties belonging to the insurgents.
Some ISWAP members, the source added, were still present in the forest, while the troops in the theatre of operations have continued aggressive patrols and intelligence-driven assaults to exploit the gains, targeting fleeing elements and dismantling remaining strongholds within the forest.
Security officials emphasised that maintaining the operational tempo is critical to further weaken the terrorist and prevent them from regrouping.
ISWAP admits losing 23 fighters in clash with troops in Sambisa Forest
Maiduguri residents urged to remain calm as fake terror threats circulate during Ramadan
By: Zagazola Makama
Residents of Maiduguri, the Borno State capital, have been urged to remain calm and vigilant following the circulation of false audio messages and online posts claiming imminent attacks by Boko Haram and ISWAP during the last ten days of Ramadan.
According to checks, including field verification by community journalists, the purported threats alleging infiltration of suicide bombers into the city and attempts to plant explosives at worship centres.
The most recent threat was publicized Yesterday at Massalacin Mallam Bako in Layin Hadiza, are entirely fabricated.
Security sources explained that such rumours often emerge during the fasting period to instil fear, disrupt prayers, and create panic among worshippers. “These are deliberate attempts by mischief-makers to exploit the spiritual atmosphere of Ramadan,” said a senior security official who requested anonymity.
Community leaders and vigilante groups, including the Civilian Joint Task Force (CJTF), have intensified patrols across Maiduguri to ensure the safety of residents and worshippers. Residents are being encouraged to continue attending prayers and to report any suspicious activity to security agencies promptly.
Local journalists conducting verification in affected areas confirmed that no explosives or suspicious individuals were found, dismissing claims circulating on social media and messaging platforms as false.
The government are therefore called to take stronger action against those spreading fake news, warning that misinformation can destabilise the fragile peace in the city. “In times of heightened religious activity, misinformation is as dangerous as a physical attack. It is important to clamp down on these instigators,” said one analyst.
As the final ten days of Ramadan approach, authorities have assured residents that security remains tight and that all necessary measures are in place to safeguard lives and properties while encouraging calm and rational public conduct.
Maiduguri residents urged to remain calm as fake terror threats circulate during Ramadan
River State NSCDC personnel shot dead during patrol in Chokocho-Etche
By: Zagazola Makama
A member of the Nigeria Security and Civil Defence Corps (NSCDC) attached to the South-South Mining Marshals was shot dead during an attack by a group of tipper drivers in Chokocho-Etche, River State, the Police Command said.
Police sources reported that the incident occurred on March 9 at about 2:45 p.m. while the NSCDC team was on routine patrol in the area.
During the attack, one ASC II Kalu Samuel Ali was shot in the head and rushed to the University of Port Harcourt Teaching Hospital (UPTH) for medical attention, where he was later confirmed dead.
In a reprisal response, security personnel returned fire, injuring one of the tipper drivers, who is receiving treatment in a separate medical facility.
Authorities said policemen and other security personnel have been deployed to prevent further escalation and maintain law and order, while efforts to apprehend the perpetrators are ongoing.
River State NSCDC personnel shot dead during patrol in Chokocho-Etche
ISWAP admits losing 23 fighters in clash with troops in Sambisa Forest
Maiduguri residents urged to remain calm as fake terror threats circulate during Ramadan
River State NSCDC personnel shot dead during patrol in Chokocho-Etche
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